AGAIG Put Call Ratio Labels for BROAD MKT/SPY/NASDAQ in ThinkOrSwim

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AGAIG PUT/CALL COLOR RATIO LABELS for BROAD Market, S&P 500, NASDAQ

As a label lover (which keeps things simple) this indicator shows the Put/Call Ratio Labels (RED/GREEN/YELLOW) to show what the overall broad market is doing as follows:.

The “All Equity” includes every optional stock on all exchanges
The “SP500” includes just the 500 stocks inside the S&P 500
The Nasdaq includes just that and is tech heavy.

Today all 3 are GREEN which show Bulls in control across the board. All equity is slightly higher right now than the SPY & NDX which tells us the smaller mid cap stocks have a bit more hedging going on while large caps are more comfortably more bullish

Might give a clean confirmation at the beginning of the day where the big money is leaning? If colors change might be the equivalent of a storm rolling in and time to cut bait (if you’re stock fishing)?

AGAIG_PutCallRatioLabels_BroadMKT_SPY_NASDAQ indicator: http://tos.mx/!GYzw8Fe2
CODE:

# ============================================================
# Put/Call Ratio Labels
# $PCALL = All equity P/C ratio
# $PCSP = S&P 500 P/C ratio
# $PCND = Nasdaq 100 P/C ratio
# Green < 0.7 bullish
# Yellow 0.7 - 1.0 neutral
# Red > 1.0 bearish
# ============================================================

def equityPC = close("$PCALL");
def spPC = close("$PCSP");
def nasdaqPC = close("$PCND");

AddLabel(1, "All Equity P/C: " + AsText(Round(equityPC, 2)),
if equityPC < 0.7 then Color.GREEN
else if equityPC <= 1.0 then Color.YELLOW
else Color.RED);

AddLabel(1, "SP500 P/C: " + AsText(Round(spPC, 2)),
if spPC < 0.7 then Color.GREEN
else if spPC <= 1.0 then Color.YELLOW
else Color.RED);

AddLabel(1, "Nasdaq P/C: " + AsText(Round(nasdaqPC, 2)),
if nasdaqPC < 0.7 then Color.GREEN
else if nasdaqPC <= 1.0 then Color.YELLOW
else Color.RED);